Balance of Payments in January - August 2006
24.10.2006
January through August 2006, the balance-of-payments current account deficit rose 51 percent against the same year-ago period to EUR 5,924 million, chiefly due to a wider trade deficit.
- EUR million -
| |
1/01-31/08/2005* |
1/01-31/08/2006** |
| CREDIT
| DEBIT
| NET
| CREDIT
| DEBIT
| NET |
| CURRENT ACCOUNT (A+B+C)
| 20,159
| 24,082
| -3,923
| 24,395
| 30,319
| -5,924
|
| A. Goods and services
| 16,985
| 21,391
| -4,406
| 20,550
| 26,763
| -6,213
|
|---|
| a. Goods (exports fob - imports fob)
| 14,394
| 18,663
| -4,269
| 16,889
| 23,371
| -6,482
|
|---|
| b. Services
| 2,591
| 2,728
| -137
| 3,661
| 3,392
| 269
|
|---|
| - transport
| 753
| 982
| -229
| 1,019
| 1,196
| -177
|
|---|
| - tourism - travel
| 521
| 422
| 99
| 604
| 574
| 30
|
|---|
| - other
| 1,317
| 1,324
| -7
| 2,038
| 1,622
| 416
|
|---|
| B. Incomes
| 703
| 2,385
| -1,682
| 1,079
| 3,108
| -2,029
|
|---|
| C. Current transfers
| 2,471
| 306
| 2,165
| 2,766
| 448
| 2,318
|
|---|
* rectified data
** provisional data
Current account deficit was financed up to 73.1 percent from foreign direct investment worth EUR 4.3 billion in the first eight months of 2006 compared with EUR 2.7 billion in the same year-ago period.
Medium- and long-term external debt1
at end-August 2006 amounted to EUR 25,837 million, up 5.1 percent compared with end-2005.
Public and publicly guaranteed external debt totalled EUR 10,923 million at end-August 2006, accounting for 42.3 percent of medium- and long-term debt, compared with 45.9 percent at year-end 2005.
Non-publicly guaranteed external debt at end-August 2006 equalled EUR 14,070 million, up 13.9 percent from end-2005.
Romania's medium- and long-term external debt at end-August 2006 and external debt service January-August 2006
- EUR million -
| |
Medium-and long-term external debt |
External debt service |
|---|
| Balance at 31/12/2005r |
Balance at 31/08/2006p |
1/01-31/08/2006p |
| 1. PUBLIC DEBTa) |
6,935
| 6,848
| 487
|
|---|
2. PUBLICLY GUARANTEED DEBTa),
of which:
|
4,348
| 4,075
| 402
|
|---|
| - public sector
| 4,136
| 3,883
| 386
|
|---|
| - private sectorb)
| 212
| 192
| 16
|
|---|
3. NON-PUBLICLY GUARANTEED DEBT,
of which:
|
12,356
| 14,070
| 2,154
|
|---|
| - public sector
| 559
| 567
| 44
|
|---|
| - private sectorb)
| 11,797
| 13,503
| 2,110
|
|---|
| 4. External debt (1+2+3) (loans, borrowings and the like) |
23,639
| 24,993
| 3,043
|
|---|
| 5. Medium- and long-term deposits of non-residents |
949
| 844
| 221e
|
|---|
| Total external debt (4+5) |
24,588
| 25,837
| 3,264
|
|---|
r - rectified data
p - provisional data
e - estimates
a) loans taken or guaranteed by the Ministry of Public Finance in compliance with Public Debt Act
b) financial and non-financial entities with majority private capital
In January-August 2006, medium- and long-term external debt service ratio2 ran at 15.9 percent versus 20.1 percent in 2005.
At end-August 2006,
import cover3 was 6 months, compared with 6.4 months at year-end 2005.
Notes:
- External debt balance is subject to monthly revision.
- Medium- and long-term external debt service ratio is computed as a ratio of medium- and long-term external debt service to exports of goods and services.
- Import cover is computed as a ratio of official reserves of the NBR (foreign exchange + gold) at end of period to average monthly imports of goods and services for the period under review.